Dow closes above 26000 for first time in history

Stocks closed broadly higher Wednesday, sending the Dow Jones industrial average to its first close above 26,000 points.

The Dow is up 312.46 points, or 1.2 percent.

The Dow first hit 26,000 Tuesday, 12 days after it hit 25,000 - the fastest run between 1,000-point milestones in history.

The Russell 2000 is up 37.46 points, or 2.4 percent. Among the day's most active movers, both Bank of America (BAC) and Goldman Sachs (GS) fell after reporting their quarterly results. The S&P 500 advanced 26 points, or 0.9%, to 2,803. "The very strong underlying trend for the market remains in place". The Nasdaq Composite Index closed up by 75 points, or 1%, to 7,298.

The S&P 500 is up 16.32 points, or 0.6 percent.

General Motors rose 3.36 percent after the company said it expects earnings in 2018 to be largely flat, compared with 2017, but that profits should pick up pace in 2019. Energy stocks also fell as crude oil prices declined.

Bitcoin tumbled 18 percent to a four-week trough close to $11,000, after reports that a ban on trading of cryptocurrencies in South Korea was still an option.

The Nasdaq is up 320.29 points, or 4.6 percent.



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